Topic > Analysis of the Ideologies of Adam Smith vs. Karl Marx

Both Adam Smith and Karl Marx are considered two of the twenty most influential people in the world for the millennium. Both are respected in their opinions for creating a perfect society where everyone is happy. Adam Smith, a brilliant Scottish philosopher and political economist born in 1723, aimed for perfect freedom for all individuals through the capitalist approach. While Karl Marx, born in 1818, believed in individual freedom for society and logically criticized capitalism by explaining why it was irrational and why it would fall. Figuring out what kind of state will guarantee the greatest freedom of individuals was their main philosophical problem. They differed in their views of human nature, the social decisions made in society, the role of competition, and the effects of the division of labor on human beings. Say no to plagiarism. Get a tailor-made essay on "Why Violent Video Games Shouldn't Be Banned"? Get an original essay Perfect freedom according to Smith will allow the establishment of a system of natural freedom in which every man, as long as he does not violate the laws of justice, is left perfectly free to pursue his own interest in his own way. This self-interest produces a market and indeed produces perfect freedom. In Smith's theory of human nature, Smith suggests that human nature will turn the beneficence of the rich towards the poor out of sympathy for their plight. Marx disagreed with Smith's passions for human nature and the phenomena of sympathy. Marx said that since it has always been in the economic interests of capital to take advantage of or exploit workers, nothing could persuade capitalists to change their ways. He thought peaceful progress toward equality and social justice was impossible. According to Marx, the only way to establish justice was for workers to overthrow capitalists through violent revolution. He urged workers around the world to rebel against their rulers. Marx states that all injustice and inequality is the result of an underlying conflict in society. He believed that there was a class struggle between the class of people who can afford to own money-producing assets or the bourgeoisie, and the class of people who have no means to provide themselves and are therefore forced to work for a wage which he called workers . , or the proletariat. He believed that capitalism had caused this conflict. Marx also thought that capitalism turned people into machines. The population would move to urban areas to find work in factories. There was no protection for them, there were low wages, horrible working conditions and many tragedies occurred during this period. Smith thought that the market should be the main driver and focus on society and the economy in addition to the state. His theory of the roles of the state is an approach where the rich stay out of the state and let the market do what it wants. He believed in the concept of the invisible hand, which converts man's private interests and passions into public good. He believed in free competition, where people compete, prices are reasonable and this consequently pushes them to shop around. He strongly argues that this free market theory will provide overall good to society. It ensures the availability of goods that people want, encourages efficient use of resources and production, promotes innovation and productivity, and results in an unrestricted market in which more goods are produced and more wealth is created. Marx thinks that the market is just the market setting its own wages. The bourgeoisie is the class.